Penguin Random House's bid to buy Simon & Schuster is likely over

Penguin Random House’s deal to buy Simon & Schuster is quite likely off.

The New York Times reports that Simon & Schuster's parent company will let the purchase agreement expire.

This comes not long after the Department of Justice won its antitrust lawsuit against the two large publishing houses.

PRH had planned to appeal the decision, but it can't do that unless Simon & Schuster's parent company renews the agreement, which is set to expire tomorrow.

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